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New Build (Negative) Equity

Purchased a Horton New build in Feb 2024. I purchased in the the first phase of development and the neighborhood still has a lot more phases to go until the development is completely finished (about a year and a half)

When we bought we were told to get in now and not wait for other homes to be built in the development as they were apparently listed “higher” than what we paid.

We we’ve been here a year and so far every phase after us is selling for less and less than what we paid. 25-50k price cuts. On the the same floor plan or similar homes. Bigger houses on better lots are even selling for less than what we paid.

Not happy with the house or neighborhood at all and now I’m forced to stay here until I have enough equity to break free.

Coastal SC area.

submitted by /u/MixWrong3513
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1iylp3t/new_build_negative_equity/
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